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Mapping your place in the capital structure
Priority determines which claims are paid first, but it does not create assets to pay them. Map the exact issuer and ranking before relying on a...
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Hybrid Securities Trading Guide
Understand securities that combine features of debt, equity and derivatives. Follow eight stages covering preferred shares, convertibles, corporate hybrids, bank capital and structured notes.
Start with What makes a security a hybrid, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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Capital structure · All lessons
Hybrid Security Foundations
Identify the issuer, legal claim and embedded choices before comparing returns.